Business
Why Rayfield Gardens City Estate Ibadan is adopting Solar Power – Fendini Homes MD Reveals
The MD/CEO of Fendini Homes, Prince Laja Adeoye, has disclosed the idea behind the adoption of solar energy to power the Rayfield Gardens City Estate in Ibadan.
Adeoye, the developer of Rayfield Gardens City Estate, Christopher Adebayo Alao Akala GRA, Wofun, Akobo Extension, Iwo Road, Lagelu Ibadan, explained this in an exclusive interview with Journalists in Ibadan, Oyo State capital.
According to him, he said that for any modern estate to function and to have near constant electricity, they must be able to provide residents with constant power, which has made Rayfield Gardens City to switch all the street light in the estate to 100% Solar power.
Laja further averred that, Fendini Homes is out to give their subscribers a whole new living experience, in a more serene environment, with modern Architectural smart home designs, and quality construction aimed at creating lasting impression for the subscribers.
He noted that Fendini aim is to ensure that at no point the Estate is in darkness, because they cannot control the government generated electricity but with Solar, their subscribers can be assured of effective Estate lighting at night, which will enhance liveliness, visibility and security of residents.


He said: “As you can see in our proof of concept, we have had street lightning on for the past one year in the Estate, as there is no night you come here to our Estate that you won’t see light.”
“In addition to perimeter fence lighting units in every homes, each of the houses will have solar light pole installed to them, to ensure that the entire Estate is well illuminated at every point in the night.”
“Renewable sustainable Energy is the game changer and for us, we are out to ensure that we provide all our residents with quality Infrastructures, such as solid paved roads, drainages, multi-layer power (Grid and Solar Power) and Security, treated water plants, fiber optics fast internet penetration/5G Network and smart homes automation technology.”
“We carefully and painstakingly designed each of the houses to have at least 10-20KVA of solar power installed on them, depending on energy needs of the residents, to phase out generators in order to achieve Zero Noise Estate.
“To us, the beautiful and esthetics environment matter so much to us, as there will be clean air, clean environment, flowers and Gardens.
“Again, we are also trying to achieve Zero noise, away from from fossil fuel powered Generator, which comes with carbon emissions, but Solar Lights on the Streets and those installed in each units of the houses will mitigate against air and noise pollution in the Estate.
“We are also going to have centralized treated water plants, which will be piped and metered to each units of the houses. All of these will be handled by the Facility Management department of the Estate, thereby creating good services and value to all the Subscribers.
Laja also briefly spoke about funding and investment opportunities of the project, and according to him, he said interested Sub-developers, who wants to invest to develop some of the units of the Estate are allowed to join as they already have a template for investors, who wants to do business with the company.
“We have designed a master plan, which fits for everyone who wants to do business with us, and interestingly, we have landed spaces in our commercial wing for those who wants to invest and build Standard Hotels, Primary and Secondary school, Office complex/ Banking Hall/Show Rooms, Amusement Park, Hospital/Pharmacy Complex, Conference Center, gym house and more.
“The idea is to have a one stop shop Estate, first of it’s kind in Oyo State, where you can simply walk into Shopping Complex in the Estate to buy groceries, visit gym to exercise your body for fitness, take your kids to school without hassles, host your friends in the Hotels, or take your kids to amusement park for holidaying, he said.
Development of Rayfield Gardens City Estate, which situated at Christopher Adebayo Alao Akala GRA Ibadan is a Public Private Partnership (PPP) initiative between Oyo State Government and Fendini Limited, to provide about 400 housing units to residents and interested prospective home buyers across the world.
Business
Naira Exchange Rates Friday, August 14
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1,416 Sell ₦1,423
GREAT BRITISH POUND (GBP) Buy ₦1,890 Sell: ₦1,910
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CANADIAN DOLLAR (CAD) Buy ₦1,020 Sell ₦1,080
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370 CHINESE YUAN Buy ₦190 Sell ₦205
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 300 Sell ₦2, 400
CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
CBN Exchange Rates
US DOLLAR (USD) ₦1,357. 65
GREAT BRITISH POUND (GBP) ₦1,834.04
EURO (EUR) ₦1,567.00
SWISS FRANC (CHF) ₦1,671. 98
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SAUDI RIYAL (SAR) ₦361.62
SOUTH AFRICAN RAND (ZAR) ₦84.23
Business
Traders shut down Enugu ‘s Obollo-Afor market over N25,000 haulage levy
However, Chairman of ESIRS, Emmanuel Nnamani, in a letter to the traders, said the haulage levy was not paid by traders buying or selling goods in the markets, but was applicable strictly to truck drivers plying interstate routes.
All shops and markets at Obollo-Afor, Udenu Local Government Area of Enugu State were shut yesterday, as traders staged a peaceful protest against alleged selective collection of a N25,000 haulage levy in the market.
The traders, who locked their shops and took to the streets in large numbers, carried placards with various inscriptions, alleging that the Enugu State Internal Revenue Service (ESIRS) had singled out Obollo-Afor Market for the collection of N25,000 haulage fee on every truckload of goods loaded or offloaded in the market.
However, Chairman of ESIRS, Emmanuel Nnamani, in a letter to the traders, said the haulage levy was not paid by traders buying or selling goods in the markets, but was applicable strictly to truck drivers plying interstate routes.
Addressing officials of the Udenu Local Government Council at the council secretariat, where the protesters marched to present their grievances, Chairman, Obollo-Afor Market Traders Association, Charles Eze, lamented that truck operators bringing foodstuffs, building materials, and other commodities to the market had stopped coming because of the levy.
Business
Nigeria’s oil production dropped by 4% in July – NUPRC
“In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.”
The Nigerian Upstream Regulatory Commission (NUPRC) data has shown Nigeria’s average daily oil production fell by four percent in July, 2026.
According to the NUPRC, Nigeria produced 1.505 million barrels per day (bpd) of crude oil and 0.17 million bpd of condensate, bringing the combined daily production to 1.67 million bpd.
The commission said the country met and exceeded its Organisation of the Petroleum Exporting Countries (OPEC) quota of 1.5 million bpd for the third consecutive month.
“In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.”
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